#community

A federal judge overseeing the criminal case against Sam Bankman-Fried is set to review the possibility of revoking the former FTX CEO’s $250 million bail following allegations of intimidation against Caroline Ellison. Additionally, federal prosecutors in New York have requested that Sam Bankman-Fried be jailed before his scheduled October trial. At a hearing in Manhattan federal court, prosecutor Danielle Sassoon argued that “no set of release conditions can ensure the safety of the community.”

The UK court has upheld Craig Wright's appeal, allowing him to maintain in legal proceedings that he is the originator of the Bitcoin white paper. Wright gained notoriety in 2016 when he professed to be Bitcoin's creator and subsequently sued Bitcoin Core's developers. While his claims have not been definitively proven, this court ruling enables Craig to continue his legal battles against companies, eliciting laughter across the cryptocurrency community with his antics.

Polygon Labs has announced plans for a new, more decentralized governance model as part of its upcoming Polygon 2.0 roadmap. The team has proposed "three governance pillars" that will manage the core protocol, smart contracts, and a community treasury. Key features include an expanded Polygon Improvement Proposal (PIP) framework, an ecosystem council to manage system smart contract upgrades, and a two-phase community treasury governance model to fund promising projects.

Affected by the Azuki “Elementals” NFT incident (similar artworks, errors in the artwork, and collector dissatisfaction), the NFT market fell sharply again in the past 24 hours. BAYC fell 16%, MAYC fell 20%, and Azuki fell 11%. Earlier this year, Azuki NFTs gained significant popularity, surpassing even BAYC NFTs. Meanwhile, AzukiDAO has proposed to recover 20,000 ETH from Azuki founder ‘Zagabond’. The proposal suggests hiring a lawyer to take legal action against Zagabond for their alleged involvement in multiple “rug” projects. The aim of the clawback is to retrieve $39 million worth of ETH that was earned from the controversial launch of “Elementals” NFT collection. As of now, the action has received support from 88.3% of AzukiDAO (BEAN) token holders, with 11.65% opposing it. The voting period for the proposal will conclude at 6:38 am UTC on July 3rd.

Optimism announced Law of Chains v0: a foundation for the future of Superchain. Law of Chains v0 will change Optimism Governance to govern standards for multiple chains, defining the necessary conditions for integration into Superchain and prioritizing user security. According to the developers, this will: 1. Preserve a unified, neutral, and open blockchain space. 2. Conduct blockchain modernization. 3. Ensure infrastructure availability. Optimism aims to officially unveil this project and the first version of the new chain governance process after discussions with the community in the next governance season.